Tata Steel in Rs12k-cr capex drive
Plans to invest Rs8,500 cr in India, Rs3,500 cr in Europe operations this fiscal
New Delhi: Tata Steel has planned capital expenditure (capex) of Rs12,000 crore on its India and Europe operations during the current financial year, the company's Chief Executive Officer TV Narendran said.
The domestic steel major plans to invest Rs8,500 crore in India and Rs3,500 crore on the company's operations in Europe, Narendran, who is also the Managing Director (MD) of Tata Steel, told PTI in an interview.
On Tata Steel's Capex plans for FY23, he said: "We have planned for about Rs12,000 crore of capex for the year of which about Rs8,500 crore will be spent in India and the balance in Europe."
In India, the focus will be on the Kalinganagar project expansion and mining activity, and in Europe, it will be focussed on sustenance, product mix enrichment and environment-related capex, Narendran said.